Thank you for your replies. As my capital is somewhat limited (still on the road to the pattern day trader limit), I am long in VRNG hoping for a nice bump.
Currently I have 95 contracts of June 3.5 calls and day/swing trading with 4000 shares (just buying low and selling a bit higher). Currently trying to figure out the best strategy to limit my losses with what I have to play with.
As I see it, I have two ways to play it with a small profit: Day trade to an amount that would make up for the option prices I bought. I'm about $500 to that point (so maybe 1-3 days of day trading). This way I can keep the options just in case it does fly up.
or I can close out the options in another day or two at break even prices or with a very small profit.
I see the first option as the better way to go at it. But the second option is the better day trading strategy (slow and steady gains). Any other recommendations?